News

Calgary, Alberta--(Newsfile Corp. – September 20, 2023) – Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB:RIINF) ("Canadian Critical Minerals" or the "Company") is pleased to announce assay results from the first two drill holes of a seven hole 2,600 metre exploration program that was completed at the Thierry Mine Project near Pickle Lake, Ontario in July 2023. Assay results for the remaining five holes are pending.

Early Highlights of the July 2023 Program are as follows:
•    CCM-23-51 intersected 106 metres of 0.539% Copper Equivalent (“CuEq”) mineralization (including 23.2 metres of 0.875 % CuEq mineralization) within continuous sulphide mineralization which started at surface and extended 248 metres down the hole, grading 0.438% CuEq.
•    CCM-23-52 intersected 31.2 metres of 0.677% CuEq mineralization and 22.8 metres of 0.670% CuEq mineralization within continuous sulphide mineralization which started at surface and continued for 243.9 metres down the hole, grading at 0.382% CuEq.

Each hole intersected continuous zones of sulphide mineralization from surface and continued for more than 240m down the hole.  The holes were drilled at 45 degrees dip to intersect mineralized lenses dipping at 50 degrees to the north, thereby representing intercepts of approximate true width. Assay highlights appear below.

Assay Highlight Table

*Copper Equivalent (CuEq) for drill intersections is calculated based on US$ 3.75/lb Cu, US$ 9.25/lb Ni, US$ 1,190/oz Pd and US$ 910/oz Pt with 100% metallurgical recoveries for all metals. Assays have not been capped. The formula used for the calculation is: CuEq = Cu % + (Ni grade X Ni Price)/(Cu Price) + ((Pd grade) X (Pd price / 31)) / (Cu price X 22) + ((Pt grade) X (Pt price/31)) / (Cu price X 22).

The 2023 summer program was designed to focus on expanding upon the K1-1 deposit, which is a large tonnage, near surface deposit located approximately 3 km east of the past producing Thierry Mine.  The K1-1 deposit has a current Inferred Mineral Resource within an optimized Whittle pit shell consisting of the following: 53,614,000 tonnes grading 0.38% Cu, 0.10% Ni, 1.8 g/t Ag, 0.03 g/t Au, 0.05 g/t Pt and 0.14 g/t Pd at a NSR of C$12/tonne (see NI 43-10 Technical Report filing on SEDAR dated February 22, 2021).

Ian Berzins, President and CEO commented, “We are pleased to see positive assay results from our initial drilling program at the Thierry Mine project with specific focus on the K1-1 deposit. We believe there is significant potential to expand upon the current Inferred Resource at K1-1.”

Samples reported on in this press release were selected in the field, bagged, tagged, and sent to the facilities of ALS Laboratories in Thunder Bay, Ontario via bonded courier where they were processed using ME-MS41 Ultra Trace Aqua Regia for multi-element analysis and PGM-ICP23 for 30g Fire Assay for Pt, Pd and Au.

Qualified Person

CCMI’s disclosure of a technical or scientific nature in this news release has been reviewed and approved by Brian H. Newton P.Geo., of Minroc Management Limited, who serves as a Consultant to the Company and is a Qualified Person under the definition of National Instrument 43-101.

About Canadian Critical Minerals Inc.

Canadian Critical Minerals Inc. is a mining company primarily focused on two near-term copper production assets in Canada. CCMI’s main asset is the 100% owned Bull River Mine project (>135 million lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. CCMI’s latest acquisition is the 100% owned Thierry Mine project (>1.3 billion lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.

Contact Information
Canadian Critical Minerals Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@canadiancriticalmineralsinc.com  
Website: www.canadiancriticalmineralsinc.com

Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.